This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

AVG Technologies Announces 2,500,000 Share Repurchase Program





AMSTERDAM, May 9, 2013 /PRNewswire/ -- AVG Technologies N.V. (NYSE: AVG), the provider of Internet and mobile security, privacy and optimization to 150 million active users, today announced that it has adopted a share repurchase program under which AVG intends to repurchase shares to cover its obligations to deliver shares under its employee stock options incentive and restricted share units plans. Under the repurchase program AVG may repurchase up to 2,500,000 ordinary shares. "Our significant cash flow from operations provides the flexibility to invest in our business, undertake acquisitions and initiate a share repurchase program", said John Little, AVG's Chief Financial Officer.



Details of the Share Repurchase Program

The share repurchase was authorised by AVG's shareholders on June 27, 2012 and approved by the Supervisory Board. Under the share repurchase program AVG may, between May 9, 2013 and November 9, 2014, repurchase from time to time in both open market and privately negotiated transactions up to 2,500,000 ordinary shares.

Under applicable law, the repurchase price will be no greater than the lower of (a) 110% of the highest price of the ordinary shares officially quoted on NYSE over the 30 banking days preceding the date the repurchase is effected and (b) the higher of the price of the last independent trade and the highest current independent bid on the NYSE at the time of repurchase. Any open market purchases will be executed with reference to the trading conditions of Rule 10b-18 under the U.S. Securities Exchange Act of 1934, as amended, and Article 5 of the Regulation No. 2273/2003 of the Commission of December 22, 2003 (EC Regulation), whereby the relevant daily volume will be determined on the basis of the average daily volume traded in April 2013 and will be fixed on that basis for the period of the share repurchase program.

The share repurchase plan does not require AVG to acquire any specific number of shares and may be terminated by AVG at any time without prior notice.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,037.97 -42.17 -0.23%
S&P 500 2,108.92 -8.77 -0.41%
NASDAQ 5,060.2460 -31.8390 -0.63%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs